- The Mashantucket Pequot and Mohegan tribes have expanded their Tribal Gaming Compacts for the next 10 years to include sports betting and online gaming.
- Sportsbooks would be seen through both brick and mortar and mobile platforms in Connecticut with these new agreements.
- The Connecticut General Assembly has until June to approve these new compact agreements as law.
HARTFORD, Conn. – The Tribes of Connecticut have come to a 10-year agreement deal with their Tribal Gaming Compacts and Governor Ned Lamont on Thursday that will open up legal sports betting and online gaming industries in the state.
This does not mean that anything has become official yet as there are still channels that these compacts must go through for approval before they become law.
First, the Connecticut General Assembly has to greenlight the agreement with approvals and then the U.S. Department of Interior will have to give the go-ahead as well which would be the final step to bring online gambling and sports betting to Connecticut by law.
“Connecticut is on the cusp of providing a modern, technologically advanced gaming experience for our residents, which will be competitive with our neighboring states,” said Lamont. “We will work to see it ratified and look forward to doing so through a collaborative effort, to include working with elected leaders in the General Assembly.”
What’s On The Table For Legal Connecticut Sports Betting?
The Mashantucket Pequot and Mohegan tribes, owners of the Foxwoods Resort Casino and the Mohegan Sun Casino respectively, will be operating retail and mobile sportsbooks as well as offering online casino gambling via the stipulations of their new agreements. Details of the online aspect wish to get popular casino games like poker, lottery tickets, and sports wagers to computers and mobile devices statewide.
Revenue tax on GGR will be 18% on internet casino games for five years and then 20% to finish out the final five years of the ten-year deal. Sports betting will see a tax rate of 13.75% on all revenue from the industry for the entire term.
All gaming will see a minor drop in revenue percentages taken from the previous 30-year compacts, as is part of the agreement due to the addition of these extra revenue sources.
Other parts of the agreement will open the door for more retail sportsbook locations across the state, with establishments being seen in Hartford and Bridgeport in the future. The Connecticut Lottery has also been included to make for a more competitive market, however, there is already pushback on this inclusion because they are not being offered all gaming.
They will be able to broaden the iLottery with internet purchase drawing ticket sales and Keno through their parimutuel operator Sportech who is claiming the deal to be unfair.
“Connecticut consumers will be deprived of a healthy competitive betting marketplace and the Connecticut jobs that Sportech supports will be at risk,” read a statement by Sportech. “We continue our dialogue with the administration in pursuing gaming expansion that does not contravene laws and discriminate against not only our employees but all Connecticut consumers.”
It is believed that this deal will bring millions of dollars in revenue to Connecticut with legal sports betting being a big selling point as there are a large number of sports bettors who reside in the state. There are still a lot of approvals that are required before these compacts can become the official law of Connecticut but DraftKings has already partnered with the Mashantucket Pequot Tribe, making them their sportsbook operator should all turn out favorably.
This deal is kind of a big deal for Connecticut, being the first major change for gaming laws in over 30 years. An advocate for tribal sports betting, Senator Cathy Osten (D-Sprague), believes it to be as such.
“This agreement signals the beginning of a new approach by the state of Connecticut to working with and valuing two of our largest, minority-owned businesses who employ thousands of state residents, who contribute billions to our economy, who have a worldwide reputation, and who have been steadfast economic partners with Connecticut for almost 30 years,” said Osten upon hearing the news.
The Connecticut General Assembly will adjourn for the year in June. If they allow these new compacts to go through, Connecticut could be seeing legal sportsbooks launch before the year ends.
News tags: Cathy Osten | Connecticut | Connecticut General Assembly | Connecticut Lottery | Foxwoods Resort Casino | Mashantucket Pequots Tribe | Mohegan Sun | Mohegan Tribe | Ned Lamont | Sportech | U.S. Department of Interior
Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.